Market research is a method of collecting, analyzing and interpreting market information designed to help client companies understand the market environment, consumer needs, competitor behavior and business opportunities. Market research can help customers develop effective marketing strategies, optimize product or service design, improve customer satisfaction and loyalty, enhance competitive advantage and profitability. Therefore, market research is critical to the success of the client's business.

However, market research is not an easy task. Market research requires professional knowledge, skills and experience, as well as sufficient time, resources and manpower. For many client companies, conducting their own market research may not be realistic or cost-effective. Therefore, they will seek external professional institutions to provide market research services, the so-called market research companies.

A market research company is an organization that specializes in providing market research services in various types and fields. Market research companies usually have a team of professionals with different backgrounds and expertise, as well as a comprehensive set of tools and systems for data collection, analysis and presentation. Market research companies can design and execute appropriate market research programs based on the specific needs and goals of the client's business, and provide clear and valuable reports and recommendations.

Champ Consulting (Shangpu Consulting) is a well-known market research company headquartered in Beijing. Champ Consulting was established in2008Years, serving domestic and foreign enterprises. Champ Consulting has a team of experienced and diverse experts and an advanced and flexible platform for data collection, analysis and presentation. Shangpu Consulting provides a variety of market research services, including market analysis, consumer insight, competitive intelligence, brand strategy, product innovation, marketing effect evaluation, etc. The purpose of Shangpu Consulting is to provide professional, efficient and influential market research solutions for client enterprises to help them cope with market problems and challenges and achieve business growth and development.

Taking Shangpu Consulting as an example, this paper introduces the main methods and strategies of market research companies in solving the market problems and challenges faced by customer enterprises, as well as some difficulties and challenges faced in the process, as well as measures and suggestions to deal with them.

1. the methods and strategies of market research companies to solve the market problems and challenges of customer enterprises

Market research companies need to follow certain processes and principles in solving the market problems and challenges faced by client companies to ensure that they provide high-quality and efficient market research services. According to the experience of Shangpu Consulting, the methods and strategies of market research companies to solve the market problems and challenges of client enterprises mainly include the following aspects:

1. Identify customer needs

Identifying customer needs is the first and most important step for market research companies to solve their customers' business market problems and challenges. Market research companies need to communicate fully with their clients to understand their background, goals, expectations, budgets and other information, as well as the specific market issues and challenges they face. The market research company needs to analyze and evaluate the problems or needs raised by the customer enterprise, and judge its rationality, feasibility and priority. The market research company also needs to reach a consistent understanding and consensus with the client company to clarify the responsibilities and obligations of both parties, as well as the scope, time, cost and other key factors of the project.

The purpose of determining customer needs is to ensure that market research companies can accurately grasp the real needs of customer enterprises, so as to provide the basis and guidance for the subsequent market research program design. At the same time, determining customer needs is also to establish trust and cooperation between the two parties and create a good atmosphere for the smooth implementation of the project.

2. Design appropriate research program

Designing a suitable research solution is the second and most important step for market research companies to solve the market problems and challenges of their clients. Market research companies need to develop research programs that meet project objectives, budget, time, and other requirements based on customer needs. The research program mainly includes the following parts:

Research Objective: To identify the main questions or needs to be answered or addressed by the project.

Research methods: Select the data collection and analysis methods suitable for the characteristics of project type, content and scale. Common data collection methods are: questionnaires, in-depth interviews, focus groups, observation methods, etc. Common data analysis methods are: descriptive analysis, inferential analysis, correlation analysis, regression analysis, cluster analysis, factor analysis, etc.

Research object: Identify the target group or sample of data to be collected by the project, as well as its characteristics, scale, source and other information.

Research tools: Select or design data collection and analysis tools suitable for project requirements and research objects, such as questionnaires, interview guides, code sheets, statistical software, etc.

Research process: arrange the specific implementation steps, timetable, responsibility allocation and other matters of the project.

The purpose of designing a suitable research program is to ensure that the market research company can effectively collect and analyze the required market information, so as to provide useful and reliable market research results for the client company. At the same time, the design of a suitable research program is also to ensure the quality, efficiency and cost control of the project, as well as to avoid or reduce possible risks and problems.

3. Use of multiple data collection and analysis techniques

The use of multiple data collection and analysis techniques is the third and most critical step for market research companies to solve their customers' market problems and challenges. The market research company needs to implement data collection and analysis according to the research plan. Data collection and analysis mainly include the following aspects:

Data collection: Market research companies need to collect market information related to the project from different angles and levels through different channels and methods. Data collection can be divided into two types: first, secondary data, I .e., data that already exists and can be directly accessed or referenced, such as official statistics, industry reports, academic literature, etc.; and second, first-hand data, I .e., data collection methods that need to be designed and implemented by oneself, such as questionnaires, in-depth interviews, focus groups, etc. The market research company needs to select the appropriate data type and source according to the characteristics and needs of the project, as well as ensure the quality and quantity of the data.

Data collation: Market research companies need to collate and clean the collected data to facilitate subsequent data analysis. Data collation consists of the following steps: first, coding, which converts non-numeric data into numeric or categorical data, such as coding gender1(male) or2(female), etc.; The second is input, that is, data is entered into a computer or other equipment, such as the useExcelorSPSSThe third is to check, that is, to check whether there are errors or omissions in the data, and to correct or supplement, and the fourth is screening, that is, according to the objectives and scope of the project, select the data to be analyzed, and delete irrelevant or invalid data.

Data analysis: Market research companies need to analyze and interpret the collated data in order to arrive at meaningful and valuableConclusionand recommendations. Data analysis can be divided into two types: one is quantitative analysis, that is, using mathematical or statistical methods to calculate or infer numerical or categorical data, such as calculating average, standard deviation, correlation coefficient, etc. The second is qualitative analysis, that is, using language or graphical methods to describe or summarize non-numerical or non-categorical data, such as summarizing main viewpoints and extracting main topics. Market research companies need to select the appropriate data types and methods according to the characteristics and needs of the project, and ensure the accuracy and effectiveness of the analysis.

The purpose of using a variety of data collection and analysis techniques is to ensure that market research companies have a comprehensive and in-depth understanding of the current state and trends of the market, as well as the market issues and challenges facing client companies. At the same time, the use of a variety of data collection and analysis techniques is also to improve the credibility and persuasiveness of market research results, as well as to increase the added value and differentiation of market research services.

4. Provide clear and valuable reports and recommendations

Providing clear and valuable reports and recommendations is the fourth and final step for market research firms to address their clients' market problems and challenges. Market research companies need to prepare and present market research reports and recommendations based on the results of data analysis. Market research reports and recommendations mainly include the following parts:

Summary of the report: An overview of the background, objectives, methods, results, conclusions and recommendations of the project so that readers can quickly understand the main contents and values of the project.

The main body of the report: introduce in detail all aspects of the project, including: first, the background of the project, that is, the cause, purpose, scope and other information of the project; The second is the project method, that is, the data type, source, collection method, analysis method and other information used by the project. The third is the project results, that is, the data analysis results obtained by the project, including quantitative analysis and qualitative analysis, the fourth is the project conclusion, which summarizes the main findings and inspirations obtained from the project, and compares and evaluates them with the project objectives. The fifth is the project proposal, that is, according to the project conclusion, put forward the solutions or improvement measures for the market problems and challenges faced by the customer enterprise, and explain its feasibility and expected effect.

Report appendix: provide supplementary information related to the project, such as questionnaire samples, interview records, data forms, references, etc.

The purpose of providing clear and valuable reports and recommendations is to ensure that market research companies can effectively communicate market research results to client companies and help client companies formulate or optimize their market strategies. At the same time, providing clear and valuable reports and suggestions is also to show the professional level and service quality of the market research company, and to enhance the trust and satisfaction of the customer enterprises to the market research company.

Difficulties and challenges faced by 2. market research companies in solving customer enterprise market problems and challenges

In the process of solving the market problems and challenges faced by customer enterprises, market research companies may encounter some difficulties and challenges that affect the quality, efficiency or cost of the project. According to the experience of Shangpu Consulting, the difficulties and challenges faced by market research companies in solving the market problems and challenges of customer enterprises mainly include the following aspects:

1. Customer needs are not clear or change frequently

Unclear or frequent changes in customer needs are one of the common difficulties of market research companies. Some client companies may not have a clear or accurate understanding of the market problems or needs they face, or they may often change or add their requirements during project execution. This can make it difficult for market research companies to determine or meet customer needs, or lead to changes in the program, schedule, or cost of the project, affecting the quality and efficiency of the project.

In order to cope with this difficulty, the market research company needs to fully communicate and communicate with the customer enterprise before the project starts, and understand and clarify the customer's needs as much as possible, as well as the background, goals, expectations and other information of the customer enterprise. The market research company also needs to sign a contract or agreement with the client enterprise, specifying the scope, time, cost and other key factors of the project, as well as the responsibilities and obligations of both parties. In the process of project implementation, the market research company needs to communicate and feedback with the customer enterprise on a regular basis, and keep abreast of the opinions and suggestions of the customer enterprise, as well as the progress and results of the project. If the customer's needs change, the market research company needs to assess the impact in a timely manner and negotiate solutions with the customer enterprise, such as adjusting the project plan, extending the project time, increasing the project cost, etc.

2. Difficulties or errors in data collection and analysis

Difficulties or errors in data collection and analysis are one of the common challenges for market research companies. Due to the complexity and variability of market information, market research companies may encounter some difficulties or problems when collecting and analyzing data, such:

Insufficient or unreliable data sources: Some market information may be difficult to access or cite, such as when it involves sensitive or confidential information, or when there are no public or authoritative data sources. This will lead to the lack of sufficient or credible data support by market research companies, which will affect the credibility and persuasiveness of the project.

Inappropriate or ineffective data collection methods: Some market information may be difficult to collect or measure, such as information involving subjectivity or sentiment, or requiring extensive or complex data collection methods. This can cause the market research company to spend too much time, resources, or manpower, affecting the efficiency and cost of the project.

Inaccurate or inappropriate data analysis methods: Some market information may be difficult to analyze or interpret, such as involving complex or ambiguous relationships, or requiring advanced or specialized data analysis methods. This can cause market research companies to produce incorrect or biased analysis results, affecting the accuracy and effectiveness of the project.

In order to meet this challenge, the market research company needs to carry out sufficient preliminary preparations for market research before the project starts, including: First, determine the data type and source, that is, according to the project objectives and content, select the appropriate data type (such as second-hand data or first-hand data) and source (such as official statistics, industry reports, questionnaires, etc.), and evaluate its availability and reliability; the second is to choose the data collection method, that is, according to the project type, scale, budget and other factors, choose the appropriate data collection method (such as questionnaire, in-depth interview, focus group, etc.), and design the appropriate data collection tools (such as questionnaire, interview guide, etc.); the third is to choose the data analysis method, that is, according to the project characteristics and needs, select appropriate data analysis methods (e. g., quantitative or qualitative analysis) and use appropriate data analysis tools (e. g., statistical software, charting software, etc.). During the implementation of the project, the market research company needs to collect and analyze the data in strict accordance with the research plan, and organize, check and screen the data to ensure the quality and quantity of the data. Market research companies also need to test, verify, and interpret the results of data analysis to ensure the accuracy and validity of the analysis.

Rapid or unpredictable changes in market conditions

Rapid or unpredictable changes in the market environment are one of the common challenges for market research companies. As the market is affected by various internal and external factors, such as policy, technology, competition, consumers, etc., the market environment may change rapidly or unpredictably, such as the emergence of new market opportunities or threats, or changes in existing market laws or trends. This can cause the market research company's market research results to lose their timeliness or applicability, affecting the value and impact of the project.

In order to cope with this challenge, the market research company needs to conduct sufficient market research intelligence collection before the start of the project, including: first, to understand the market background, that is, to collect and analyze the market environment information related to the project, such as market scale, structure, growth rate, competition pattern, etc.; second, to identify market opportunities and threats, that is, to identify and evaluate market opportunities and threat information related to the project, such as emerging market demand, innovative market solutions, potential market risks, etc., and the third is to predict market trends and changes, that is, to predict and analyze market trends and change information related to the project, such as future market demand, competition, technology, etc. In the course of project implementation, market research companies need to continuously track and update market intelligence information, and timely adjust the project plan or results to adapt to changes in the market environment. Market research companies also need to provide follow-up market monitoring and evaluation services after the end of the project to help client companies continuously understand and respond to changes in the market environment.

3. epilogue

In short, market research companies, as professional institutions providing market research services, need to have certain capabilities and skills in order to effectively solve the market problems and challenges faced by customer enterprises. Taking Shangpu Consulting as an example, this paper introduces the main methods and strategies of market research companies in solving the market problems and challenges faced by customer enterprises, including: determining customer needs, designing appropriate research programs, adopting various data collection and analysis techniques, and providing clear and valuable reports and suggestions. This paper also analyzes some difficulties and challenges faced by market research companies in solving market problems and challenges faced by customer enterprises, as well as measures and suggestions to deal with them.